Posts from Wednesday Oct 23 2013

The Closer


– Has China’s debt crisis moment arrived? Read more

World War Zirp

David Rosenberg, chief economist and market strategist at Gluskin Sheff & Associates, has turned slightly bullish.

Unfortunately, this has come as an unpalatable shock to a few people. Read more

Herbalife’s incredible Mexican business

There has been a lot of attention recently on Herbalife’s Californian business, where the company has received some criticism from within the Latino community.

Herbalife says that this is unfair, and that it would be delighted to help its critics understand the opportunity it provides to its many keen salespeople. What it might consider is a field trip to Mexico, where its nutritional shakes and direct sales model appear to be wildly popular.

Just how popular? Read more

Locusts and high costs, taxpayer edition

I am shining a harsh light into the murky world of corporate behaviour. Why should good companies be destroyed by short-term investors looking for a speculative killing, while their accomplices in the City make fat fees?

-Vince Cable, Secretary of State for Business, Innovation and Skills, 2010

 Read more

Bubble watching, with Albert

Albert Edwards, the SocGen strategist, is pretty much beside himself. His latest Global Strategy Weekly recycles his usual spit, sweat and fury, thrown again at “bozo” policymakers.

But it also includes this fab J Paul Getty quotation, via John Hussman… Read more

ENRC: wounded and….vengeful?

This is likely to ruffle the feathers of certain City grandees and also a few well-known corporate financier types. Click to read:

 Read more

Markets Live: Wednesday, 23rd October, 2013

Live markets commentary from 

The (early) Lunch Wrap

Good morning New York,


The downsides of quantitative easing, Cardiff Garcia smackdown watch

Brad DeLong asks (politely) why oh why can’t we have better QE weblogging, and then issues a challenge:

Toward the end of an otherwise very good think piece, the intelligent and thoughtful Cardiff Garcia mysteriously writes: “But the downsides to continued QE aren’t trivial either.”

Which makes me ask: what are the downsides to continued QE?

 Read more

The year of assessing comprehensively

Click for the ECB’s official introduction to its year-long “supervisory risk assessment… asset quality review and a stress test” for 124 European banks (who are all listed)…

The capital ratios to be used have already been leaked, but here it is in full from Wednesday’s note — it seems there’s a significant wriggle: Read more

Further reading

Elsewhere on Wednesday,

– “Sun Capital has hit like a bomb in the private equity industry…”

Ben Bernankepoulos.

– Britain’s giant experiment in bringing “the market” to higher education. Read more

The 6am London Cut

Markets: Asia-Pacific equity markets were following US bourses higher after the weak US jobs report propelled hopes that easy money policies will be extended. (Financial TimesRead more